401(a) Optional Contributions

AERP Optional Contributions 401(a)

Q) Can I leave my Optional Contributions on deposit with Fidelity Investments after retirement?
A) Yes, you may leave your funds with Fidelity after retirement. Retired participants must begin taking minimum distributions by April 1 following the calendar year they attain 70 ½.

Q) May I rollover my Optional Contributions to an IRA?
A) Yes, however, only the earnings portion of your Optional Contributions account is eligible for a direct rollover to an IRA. The after-tax portion of your account will be paid directly to you by Fidelity.

Q) Do I have to take a lump sum when I decide to make a withdrawal?
A) You may elect systematic withdrawals (monthly, quarterly, annually) through Fidelity Investments. You may also elect to have your annual minimum distributions automatically paid to you by Fidelity.

Q) How do I find out about minimum distributions?
A) Contact Fidelity Investments at (800) 343-0860. They will do minimum required distribution calculations and send you the appropriate forms.

Q) How do I change my beneficiary?
A) Contact Fidelity investments at (800) 343-0860 for a beneficiary form.

Q) Can I change my asset allocation or transfer between Fidelity funds?
A) Yes, you can change your allocation within Fidelity by calling (800) 343-0860 or access the Fidelity website.

Q) Does Fidelity charge any fees to my account?
A) Fidelity Investments charges no annual administration or maintenance fees. Most “load” charges are also waived. Some funds are subject to redemption fees. Contact Fidelity for more information.